It seems Citibank has not cleaned up its act. In fact, Citibank seems to be going out of its way to rip off customers and consumers every which way it can.
I maintain a low or zero balance checking account with Citibank and have had the account since the nineties. I always deposit the amount of the monthly service fee into the account before the due date.
In August I deposited the usual $8.50 into the account and thought nothing of it.
Shortly thereafter I found myself barraged by harassing calls from Citibank several times a day about an alleged overdraft fee that totaled 350% of the monthly service charge.
When I inquired about the problem, very rude and threatening Citibank employees told me that I owed the money and must pay immediately, or the calls would escalate and the item would be reported adversely to all of the major credit bureaus.
I noticed that Citibank, without any written or other notices or disclosures to me, had raised the monthly fees on the account by one dollar a month, and that this had caused an overdraft when applied to the account.
In my opinion, Citibank is a criminal organization rife with fraudsters, taking its lead from the same management group that required billions of dollars in taxpayer-funded assistance to deal with a vast array of problems due directly to the mismanagement and fraud that took place at the bank under this very same style of management.
The bank is apparently still under the guidance and control of many of these same people, who should have been dismissed, stripped of compensation, and probably indicted.
On a daily basis, as in this matter, it seems fairly obvious that the bank engages in predatory conduct that is both unfair and deceptive towards its customers, and it acts as if it expects that if it engages in massive fraud it will be bailed out of its mess because it is too big to fail or be punished in any meaningful way.
How many millions of dollars did Citibank realize this month by ripping off its customers and stealing money from them this way so unabashedly?
In my opinion, this bank is financially victimizing American taxpayers and cheating consumers every which way it can.
It is time for a class action with a claim for punitive damages and a very generous lodestar enhancement added to any award of attorneys' fees. The sooner the better.
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